Sunday, September 25, 2022

Rupee weakens against US dollar


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
Pak rupee shed 5 paisas against US dollar to close at Rs139.63 on Wednesday compared with the last closing of Rs139.58 in inter-bank market.
The demand and supply situation in the market remained balanced as demand by importers and corporate sector was  offset be export receipts and remittances.
A sense of uncertainty prevails in the market resulting in fluctuations in the rupee value.
However read shed 40 paisas against dollar in the open market.
Malik Bostan Khan, President Forex Association of Pakistan said the buying and selling of US dollar was recorded at Rs139.70/Rs140.20 as against last closing of Rs139.30/Rs139.80 in cash free market.
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